Reported 2 months ago
Occidental Petroleum outperformed Wall Street expectations, reporting a 34% higher adjusted profit for the second quarter, aided by increased oil production and rising crude prices following its recent acquisition of CrownRock. The company's production reached 1.26 million barrels of oil equivalent per day, above estimates, and it updated its annual production target to incorporate CrownRock's assets. Despite fluctuations in its chemical division, Occidental plans to reduce its debt through asset sales and cash generated from operations.
Source: YAHOO